BMW Ventures IPO Opens with ₹94-₹99 Price Band Amid Steel and PVC Market Focus
BMW Ventures Limited launches its initial public offering at a price band of ₹94 to ₹99 per share, targeting ₹231 crore in capital raising. The Bihar-based steel and PVC pipe distributor plans to allocate 50% of shares to qualified institutional buyers, with retail investors receiving 35%. Proceeds will primarily fuel working capital needs.
The company commands a 19% market share in Bihar's TMT bars segment, leveraging a network of 1,299 dealers across 29 districts. Sarthi Capital Advisors and Cameo Corporate Services lead the financial arrangements, with SBI Securities noting BMW's near-total revenue dependence on steel distribution in the region.